zlb
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Post by zlb on Mar 12, 2019 9:56:22 GMT
Is it my misunderstanding? There appears to have been an increase in exchange sales, and in increase (although still not great) in loans sold at par?
Given that the raise value wasn't met: I can't find any articles discussing this, and what about announcements from c2f themselves?
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macq
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Post by macq on Mar 12, 2019 10:09:13 GMT
Is it my misunderstanding? There appears to have been an increase in exchange sales, and in increase (although still not great) in loans sold at par? Given that the raise value wasn't met: I can't find any articles discussing this, and what about announcements from c2f themselves? ISA season maybe?
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mjc
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Post by mjc on Mar 12, 2019 10:44:52 GMT
Is it my misunderstanding? There appears to have been an increase in exchange sales, and in increase (although still not great) in loans sold at par? Given that the raise value wasn't met: I can't find any articles discussing this, and what about announcements from c2f themselves? By increase in loans sold at par, do you mean from ‘at a premium’? Out of the top 15, 12 are still showing at a premium, 1 at a 0.1% discount in offered rate. I don’t monitor the sales, I’m really not sure how I’m doing from the stats page, so just maintaining balance atm. ie: Potential losses Recoverable4.14% Your default rate 9.28% Your default amount £1,712.78 Written off percentage 1.01% Written off amount £186.72 Average debt written off 0.36% but in context the interest is a little over £3k, what is crucial is how much of my default amount is likely be Written off. If I knew the answer to that (historic and projected) I’d increase or decrease my holdings. Pity there’s not more comment here from forum members or C2F.
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macq
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Post by macq on Mar 12, 2019 11:48:28 GMT
Is it my misunderstanding? There appears to have been an increase in exchange sales, and in increase (although still not great) in loans sold at par? Given that the raise value wasn't met: I can't find any articles discussing this, and what about announcements from c2f themselves? By increase in loans sold at par, do you mean from ‘at a premium’? Out of the top 15, 12 are still showing at a premium, 1 at a 0.1% discount in offered rate. I don’t monitor the sales, I’m really not sure how I’m doing from the stats page, so just maintaining balance atm. ie: Potential losses Recoverable4.14% Your default rate 9.28% Your default amount £1,712.78 Written off percentage 1.01% Written off amount £186.72 Average debt written off 0.36% but in context the interest is a little over £3k, what is crucial is how much of my default amount is likely be Written off. If I knew the answer to that (historic and projected) I’d increase or decrease my holdings. Pity there’s not more comment here from forum members or C2F. think C2F make the default rate look higher by putting late payments in with defaults but from a historic point of view i think it needs to be seen how they handle the cases they have ongoing.Possibly C2F have not been that popular on here which might explain the lack of comment which could be due to only a PG on most loans.I have done ok over 18 months being very picky on loans (or much more likely just lucky) and would never use auto invest. They do hide it quite well and assume you know but just in case - if you look at the holdings within your account then click the loan (rather then the coloured info dot they use for default) there is a time line which shows insolvency,court action etc and a ask a question box
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Post by Deleted on Mar 12, 2019 13:02:19 GMT
The default amount doesn't include arrears. Nor do arrears or defaults include loans where the company is in administration and are no longer paying interest. So i would say they underplay defaults. I am reducing my holding with them, i do believe they will recover a large proportion of the defaults because I'm an optimist, but i find the whole website and reporting misleading and possibly deliberately withholding the ability to investigate your own acciunt properly. This is my worst performing P2P by far in every respect.
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macq
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Post by macq on Mar 12, 2019 13:30:34 GMT
The default amount doesn't include arrears. Nor do arrears or defaults include loans where the company is in administration and are no longer paying interest. So i would say they underplay defaults. I am reducing my holding with them, i do believe they will recover a large proportion of the defaults because I'm an optimist, but i find the whole website and reporting misleading and possibly deliberately withholding the ability to investigate your own acciunt properly. This is my worst performing P2P by far in every respect. would agree the reporting could be clearer and laid out better - as to that point its why i said the default figures include arrears.If i look under the potential losses section which is for defaults etc. then click the view loss tab at the bottom my figures are 2 in arrears,1 in arrangement and 1 in default.So 3 loans are in the view loss section even when they are not lost yet in my mind so yes confusing
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Post by Deleted on Mar 12, 2019 15:10:09 GMT
.....and no sign of the ones in administration which is a default event in their T&Cs but they don't even show them as a loss.
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zlb
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Post by zlb on Mar 12, 2019 19:21:16 GMT
Is it my misunderstanding? There appears to have been an increase in exchange sales, and in increase (although still not great) in loans sold at par? Given that the raise value wasn't met: I can't find any articles discussing this, and what about announcements from c2f themselves? By increase in loans sold at par, do you mean from ‘at a premium’? Out of the top 15, 12 are still showing at a premium, 1 at a 0.1% discount in offered rate. I don’t monitor the sales, I’m really not sure how I’m doing from the stats page, so just maintaining balance atm. ie: Potential losses Recoverable4.14% Your default rate 9.28% Your default amount £1,712.78 Written off percentage 1.01% Written off amount £186.72 Average debt written off 0.36% but in context the interest is a little over £3k, what is crucial is how much of my default amount is likely be Written off. If I knew the answer to that (historic and projected) I’d increase or decrease my holdings. Pity there’s not more comment here from forum members or C2F. I meant at par but perhaps premium have also risen, but more at par i.e. equal i.e. in black. I tend to be cynical and think that those sold at a premium is because the seller has seen that there are issues. Alongside those at premium being for a larger value - I can understand those, 'take my £3500 loan part off of my hands and I'll give you a little more %'. I still like this platform, but the increase in 'revenue loans' vs 'loans', leaves me wondering about risk. My understanding being that revenue are higher risk. I'd like to see the full outcome of some of the PG loans - on the whole I think they are an efficient company regarding non-payment - but it will be interesting to see what kinds of loans they aren't able to reclaim.
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IFISAcava
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Post by IFISAcava on Mar 12, 2019 23:59:09 GMT
The default amount doesn't include arrears. Nor do arrears or defaults include loans where the company is in administration and are no longer paying interest. So i would say they underplay defaults. I am reducing my holding with them, i do believe they will recover a large proportion of the defaults because I'm an optimist, but i find the whole website and reporting misleading and possibly deliberately withholding the ability to investigate your own acciunt properly. This is my worst performing P2P by far in every respect. would agree the reporting could be clearer and laid out better - as to that point its why i said the default figures include arrears.If i look under the potential losses section which is for defaults etc. then click the view loss tab at the bottom my figures are 2 in arrears,1 in arrangement and 1 in default.So 3 loans are in the view loss section even when they are not lost yet in my mind so yes confusing I think you can customise the filters after clicking the view loss tab
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mjc
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Post by mjc on Mar 13, 2019 8:09:30 GMT
Some of these posts make me realise just how little I know (and that may apply to many of us).
What do you mean by premium? If original Apr was 10% but offered Apr is 8%, then the purchaser is getting a worse deal than had they bought when first offered. So that is a PREMIUM? ie a perceived a good loan without issues. Most offerings are still like this.
Yes you can filter, they seem to work oddly, have to click on all red boxes to leave only the ones highlighted you wish to see?
I currently have 172 loans of which [clicking on the black/grey blobs in overview] 10 defaults 1 restructured 3 arrears 7 admin 6 arrears
and 14 Revenue 2 default 1 arrears
How does this compare with other’s experiences?
This is far from clear and transparent as the FCA demand!
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Post by Deleted on Mar 13, 2019 9:49:48 GMT
I have only put a loan up for sale because i had over invested in it and it is in arrangement. I put it on at par just to see how the process would work, but although i know it is for sale I can't fing it in the secondary market list. The filtering is poor and the list is so long i think it would be very difficult to sell out of C2F if you needed to. People do immediately put loans up for sale that go into arrears. Buyer beware i suppose. I have noticed that a number of my default/loss/administration loans are still able to be sold on the secondary market which i think is another C2F poor practice.
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IFISAcava
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Post by IFISAcava on Mar 13, 2019 10:18:55 GMT
I have only put a loan up for sale because i had over invested in it and it is in arrangement. I put it on at par just to see how the process would work, but although i know it is for sale I can't fing it in the secondary market list. The filtering is poor and the list is so long i think it would be very difficult to sell out of C2F if you needed to. People do immediately put loans up for sale that go into arrears. Buyer beware i suppose. I have noticed that a number of my default/loss/administration loans are still able to be sold on the secondary market which i think is another C2F poor practice. it takes a day for them to approve it and add it to the list. The exchange pages are not flexible enough. You can't select your loans of interest - you have to scroll though them all. in order to have more than 15 per page you have to manually alter the URL. It is impossible to find your loan in the list for sale unless you click on every one, or know the amount of your offer +/- the discount/premium you added. I think it's OK to allow sales of distressed loans if they are marked (they are).
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IFISAcava
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Post by IFISAcava on Mar 13, 2019 10:27:22 GMT
I have 168 loan parts (some are from the same underlying loan, so 124 unique loans) 4 loan parts in administration (from 3 unique loans) 1 loan part in arrears
my amount in admin/arrears is 21.7% of my historical earnings on the site
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zlb
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Post by zlb on Mar 13, 2019 22:19:13 GMT
I have only put a loan up for sale because i had over invested in it and it is in arrangement. I put it on at par just to see how the process would work, but although i know it is for sale I can't fing it in the secondary market list. The filtering is poor and the list is so long i think it would be very difficult to sell out of C2F if you needed to. People do immediately put loans up for sale that go into arrears. Buyer beware i suppose. I have noticed that a number of my default/loss/administration loans are still able to be sold on the secondary market which i think is another C2F poor practice. it takes a day for them to approve it and add it to the list. The exchange pages are not flexible enough. You can't select your loans of interest - you have to scroll though them all. in order to have more than 15 per page you have to manually alter the URL. It is impossible to find your loan in the list for sale unless you click on every one, or know the amount of your offer +/- the discount/premium you added. I think it's OK to allow sales of distressed loans if they are marked (they are). I tried to manually alter the new exchange url (having posted a tip here, about the previous version) and it didn't work... Do you just change the 15 to any number, and it works? I think they've spent too much money on making some elements appear slick, when they are the opposite of this to use.
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IFISAcava
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Post by IFISAcava on Mar 13, 2019 22:57:36 GMT
it takes a day for them to approve it and add it to the list. The exchange pages are not flexible enough. You can't select your loans of interest - you have to scroll though them all. in order to have more than 15 per page you have to manually alter the URL. It is impossible to find your loan in the list for sale unless you click on every one, or know the amount of your offer +/- the discount/premium you added. I think it's OK to allow sales of distressed loans if they are marked (they are). I tried to manually alter the new exchange url (having posted a tip here, about the previous version) and it didn't work... Do you just change the 15 to any number, and it works?I think they've spent too much money on making some elements appear slick, when they are the opposite of this to use. I change to 100 and it works fine
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